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CNBC 31
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CBS
Nov 1, 2012 12:00pm PDT
for servicemembers overseas. kate kelly reports. >> they were asking for tourniquettes, medical scissors, flashlights. >> reporter: it's not unusual for aaron negherbon to go calls at all hours of the day from the front is lines in afghanistan like the call he got from a marine corps major needing help. >> he said we just got into our base here in afghanistan and half of my unit is coming down ill because there's some type of virus or bacteria. he is on the phone with me. he goes i need 10 pressure washers and i need 2,000 feet of hose. he goes, can you do that? and i said, absolutely. >> reporter: aaron says. equipment was there in a week and so are most of the items that he ships overseas through the nonprofit he founded called troopsdirect. >> a lot of these items simply aren't readily available through the supply chain and if they are it takes weeks or months to go -- to get it. but with troopsdirect, they request it on day one and we are shipping within 24 hours. >> reporter: it started with a gift box he isn't to a college buddy two years ago to afghanistan. when his friend wrote back asking fo
CBS
Nov 15, 2012 12:00pm PST
, and as kate kelly reports it gave him an idea. >>> reporter: whether he is on the field or in the bleachers, 17-year-old jack chabolla has been to a lot of sporting events. and that's where he noticed something. >> i saw that there were empty seats. but they were saying that the whole stadium was sold out. >> reporter: and just like that, it hit him. why not resell those unused tickets to raise money for charity? >> i knew that companies or just people with season tickets buy up these seats and they just don't go to them sometimes. >> reporter: so last year, jack, a senior at monte vista high in danville, began his own nonprofit, tickets to college, supporting kids who share his dream of higher education but who don't get the same opportunities as he and his classmates get. 100% of his proceeds go to the college's "real" program at richmond high school. >> "college is real" mentors the richmond high school students. it's hard for them to even go through high school day to day with the struggles they have. and that just really touched me. >> we provide resources, motivation, guidance counsel
CBS
Nov 29, 2012 12:00pm PST
and their owners from mexico to sonoma. >> as kate kelly shows us, the jefferson award winners are improving animal welfare on both sides of the border. >> reporter: this is little ramiro and he was rescued off the streets of juarez where he was found. he was actually starving. >> this is juanita. she is found in mexico hit by a car. >> reporter: they have given them names and new lives. they once lived on the streets of mexico barely surviving under the harshest conditions. >> you will see a large number of homeless street animals. they are not spayed or neutered so they are actively breeding and the problem increase. >> reporter: the camblors met 10 years ago in mexico while volunteering at an animal control center. christie is a veterinarian, moncho a graphic artist. they live in santa rosa but never forgot the suffering they once witnessed. >> homelessness, starving animals, the magnitude of the problem was completely overwhelm. >> reporter: so they founded compassion without borders, and held their first free clinic in juarez. >> our main emphasis is on spay and knew ther and training local ve
CNBC
Nov 2, 2012 7:00pm EDT
in northern new jersey. and our kate kelly in new york harbor. thats go, g s ggas got to come pump some place. most of it will be by barge. jim, are you getting a '70s feeling out there? i've seen the lines. just driving up here to global headquarters. what's going on? >> reporter: well, remember back then, larry, we were talking about ands that got, what, 7 to maybe 11 or 12 miles to the gallon. so getting that gas once you got it didn't go very far. that's for sure. look behind me here. this is actually a pretty well oiled machine here, no pun intended. off in the distance see yet another tanker. they've already put 25,000 gallons in the ground and continue to pump it out tonight. lines have not gotten any shorter as you can imagine. when people find out how well this is going the lines are going to get even longer. the officers over here, they're taking the traffic and putting them in the lines so nobody has to get confused and honk horns at anybody else. then you can see here where people are exiting off the new jersey turnpike and coming around here in this line where the police obviousl
CNBC
Nov 23, 2012 12:00pm EST
former boss, that being sac capital founder steve cohen. kate kelly has the latest developments on this evolving story. kate? >> thanks so much, bill. news today that the government tried to flip former sac trader matthew martoma against part of a case against the firm's founder steve cohen would suggest that the screws are tightening on cohen. martoma apparently refused and the tone of his lawyer's statement suggest they plan to fight hard against allegations martoma and sac benefited from insider information that was illegally obtained. and the firm has chugged along despite the specter of legal troubles for literally years now. sac is up about 10% year to date from what i'm told after turning around about 8% last year. it manages $14 billion, the majority of which is cohen or other insiders and their own capital, and it employs about 1,000 people. that last fact could be a help in defending itself from some of the harshest government charges. in this climate it is hard to see prosecutors warranting to bring down a whole business. yet, there are a half dozen former sac employe
CNBC
Nov 5, 2012 12:00pm EST
and more. first the scramble to get gas back in the northeast. kate kelly has the latest. >> reporter: steady traffic today, michelle at a gas station that serves gas stations. could be good news for area drivers. more when we come back. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> fuel shortages and gas lines remain a problem in the northeast. a week after sandy slammed the coast. kate kelly joins us from linden, new jersey with a gas station for gas stations. i love it. >> reporter: michelle, things are getting moving today at the nustar energy gas terminal here. we have seen a slow, steady string of trucks coming in and out today after a quiet couple of days since getting the facility up and going on saturday. at one point there were three trucks filling up at the same time.
CBS
Nov 4, 2012 7:30am PST
. ,,,,,,,, package sent to a marine can serving in afghanistan. but as kate kelly reports, s week's jefferson award winnr it all started with a simple care package sent to a murray and captive serving in afghanistan. this week's jefferson award winner turned in for emergency support for our servicemembers overseas. >> flashlights, scissors. >> it's not unusual for aaron to get e-mails at all hours of the day from the front lines in afghanistan. like the call he got from a murray and core major in need of help. >> he said, we just got into our base in afghanistan. half of my unit is ill because there is some type of virus or bacteria. he's on the phone with me. i need 10 pressure washers and 902000 feet of hose. can you do that? i said, absolutely. >> he says the equipment was there an week, and so are most of the items he shipped overseas through the nonprofit he founded called troops direct. >> a lot of these items simply are readily available through the supply chain. if they are, they might take weeks or months to get it. they requested on day one and we are literally shipping within 24 hours. >
CNBC
Nov 5, 2012 6:00am EST
kate kelly will join us from new jersey in just a moment. also among our guests, john ike burger of the national association of convenience stores. his members sell 80% of all the gasoline in the united states. now making the cleanup and recovery even more difficult, we have forecasters warning that a harsh nor'easter is on the way. we'll have a live report from the weather chan nenel in 20 minutes. amid all the problems is tomorrow is election day. the candidates are making a final push in six swing states. the latest poll shows the race is in a dead heat. barely favoring the president in most cases. reuters is reporting similar margins in florida, virginia, colorado and ohio. >> governor romney has been having a tough time here in ohio because everybody knows he was against saving the auto industry. you don't scare people just to scare up some votes. >> i can't wait for us to get started. he's hoping we'll settle. americans don't settle. we build, we aspire, we dream, we listen to that voice that says we can do better. >> john harwood will join us with more. and then we'll focu
CNBC
Nov 5, 2012 4:00pm EST
crisis could go on. kate kelly has the latest on the refueling efforts. kate? >> maria, activity is picking up at the new star truck rack behind me. 15 to 20 tankers have come for resupply today, waiting for fuel bays because all of them are new. new star like many competitors in the new jersey gas network have had a long last week. they're fighting power outages at their marine terminal and it took a good 48 hours after restart of their truck bays for customers to start rolling in. progress has been made. the company plans to load up its first barge tonight. a number of its damaged pump motors have been replaced and the racks received their first jet fuel truck just this is morning. there are other silver linings, too. for one thing, gas prices have sunk during this past few weeks by 9%, falling to about $3.47 according to aaa today, which will be a knight nice benefit to drivers once gas stations regain power. here's something you don't always hear. the government and coast guard did a solid for this industry in recent days according to new star officials, by issuing operating
CNBC
Nov 20, 2012 1:00pm EST
are being told to go now to kate kelly, who has the latest details on an arrest aeit federal prosecutors say might be the biggest insider trading scheme ever. kate? >> they are describing it as the most lucrative insider trading scheme ever with ill-got gains nearly a quarter billion dollars, actually little more than that the q & a session with the u.s. attorney for the southern district has just begun. their prepared comments just finished. we heard from both berrera and s.e.c. enforcement chief rob kuzami as well as april brooks of the fbi. trying to use this case, tyler, very much as a warning shot, essentially saying if you are considering doing insider trading or cheating in any way, think better of t one of berr a berrera's best, most memorable comments is if you are going to pursue ill got gains the only place you may be able to spend your profits is at the prison come mistary. they talk about the unlevel playing field created allegedly when the hedge fund in question at the behest of this defendant, a matthew mar tomy marks who was arrested this morning, essentially traded out of p
CNBC
Nov 20, 2012 4:00pm EST
the allegations. >> so that was the statement then? >> yes. >> thanks so much, kate kelly with the latest there. we'll be checking back as the news warrants at sac capital. >>> no truce, yet, meanwhile. israel and hamas militants in talks on a cease fire. stan fischer will give us his insight. >> also ahead -- >> we feel like there was very serious accounting improprieties, financial disclosures that were not made appropriately. >> hewlett-packard ceo meg wi whitman first on cnbc this morning. >>> up next, last chance to save the twinkie. not to mention more than 18,000 jobs. we'll have the latest developments next. stay with us. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. sven gets great rewards for his small business! how does this thing work? oh, i lik
CNBC
Nov 21, 2012 4:00pm EST
with kate kelly. >> maria, long before steve cohen was associated with the government's insider trading investigation, he was known for making a killing trading the markets. his generated annual average returns of 30% since inception and 20% in the last decade. that performance is in part largely to fantastic years in the 1990s but also more solid ones recently. in 2008, they fell 19% in line with the average, which is to say lousy hedge fund performance last year. this year they're up more than 10%, again, beating the averages. the firm manages about $14 billion, two-thirds of which belongs to cohen and colleagues and employs about 1,000 people. but insider trading allegations have thrust cohen into the the limelight. in complaints filed yesterday, the department of justice and the sec paint a picture in which steve cohen was closely involved in a decision to sell two major pharmaceutical positions in 2008. a decision that allegedly was based on inside information gathered by a former sec trader named mathew martoma. it's not clear if cohen news about the inside news and he says his be
CNBC
Nov 27, 2012 12:00pm EST
new details on the largest insider trading scheme of all time. kate kelly has the latest there. the shanghai composite closing at the lowest levels in almost four years. we go under the radar to find out whether it's a sign to go bargain hunting abroad. we'll be right back. when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. welcome to the world leader in derivatives. welcome to superderivatives. >>> it has been one week since the feds announced charges in an a massive alleged insider trading scam with fund manager tied to sac capital. the hedge fund is addressing the situation with investors. kate kelly joins us now with details. kate what do we know? >> scott, tomorrow more agent 8 a.m., sav making an unusual all throw not unprecedented move to say they are holding a special phone call for investors to talk a little bit about the issues that have su
CBS
Oct 31, 2012 6:00pm PDT
yes on thirty-eight. package sent to a marine can serving in afghanistan. buts kate kelly reports, this w's >>> it started with a simple c.a.r.e. package sent to a marine captain servin in afghanistan. but it was turned into a pipeline of support for servicemembers overseas. >> they were asking for tourniquettes, medical services, flash right. >> reporter: it's not unusual for aaron negherbon to go calls at all hours of the day from the front is lines in afghanistan like the call he got from a marine corps major needing help. >> he said we just got into our base here in afghanistan and half of my unit is coming down imbecause there's some type of virus or bacteria. he is on the phone with me. he goes i need 10 pressure washers and i need 2,000 feet of hose. he goes, can you do that? and i said, absolutely. >> reporter: aaron says. equipment was there in a week and so are most of the items that he ships overseas through the nonprofit he founded called troopsdirect. >> a lot of these items simply aren't readily available through the supply chain and if they are it takes weeks or mon
CBS
Nov 14, 2012 6:00pm PST
at supporting events that are supposedly sold out? this week's jefferson award winner d and as kate kelly reports it gave him an idea. >>> reporter: whether he is on the field or in the bleachers, 17-year-old jack chabolla has been to a lot of sporting events. and that's where he noticed something. >> i saw that there were empty seats. but they were saying that the whole stadium was sold out. >> reporter: and just like that, it hit him. why not resell those unused tickets to raise money for charity? >> i knew that companies or just people with season tickets buy up these seats and they just don't go to them sometimes. >> reporter: so last year, jack, a senior at monte vista high in danville, l his own nonprofit, tickets to college, supporting kids who share his dream of higher education but who don't get the same opportunities as he and his classmates get. 100% of his proceeds go to the college's "real" program at richmond high school. >> college is real mentors the richmond high school students. it's hard for them to even go through high school day to day with the struggles they have. an
CNBC
Nov 5, 2012 1:00pm EST
with the last one. gasoline lines are long and tempers are short. kate kelly has an update from a gasoline terminal, a storage area in linden, new jersey just southwest here in manhattan. >> reporter: sue, it's not exactly rush hour here at new star energy's linden, new jersey gas terminal but there is a slow and steady string of trucks coming in and out of the racks behind me filling up for fuel for area gas stations. including a first for this facility, which was a jet fuel truck filling up on behalf of southwest airlines. new star has had to get a little bit creative because in the aftermath of hurricane sandy, they and others like them have had to do the best they can to accommodate their customers after damage and marine terminals that in many cases cannot be used. about a mile down the road nustar's facility has been damaged by the flood, battered by tidal surges, filled with debris and they're still working on that. other terminals in this area are in similar spots. as of today, at least a half-a-dozen of them are fully or even partly running. including facilities run by bp, hess, a
CNBC
Nov 1, 2012 6:00am EDT
there and are they being filled? that's coming up next. plus kate kelly will be checking the supply chain for gasoline getting in to the tri-state area. i'll have to ask her if i have to car pool back into the city after the show. ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ >>> take a look at u.s. equity futures. s&p 500 would be off marginally. nasdaq would be up marginally after a relatively smooth opening yesterday. as we a wait key employment data today and tomorrow, the question, what's going on in tech land? and we have somebody who has a good answer for us i hope. ceo of dice holdings. scott, tech land, is that where the jobs are right now? >> tech is definitely a great place to be today. if you look at the market, it's still a tight labor market. about 3.5 unemployment in the tech sector. demand died down in q2, but still very stable and a good place to be. >> we're see adp today, we'll get the up in numbers tomorrow. do you want to place an expectation? >> i think we'll see more of the
CBS
Nov 8, 2012 12:00pm PST
to give you a live look of our call center. we have a lot of folks standing by. kate kelly was answering phones and the american red cross is providing shelters, food, blankets, other necessities. and as we said, they need your help. please call at 1-888-5-helps-u. donate whatever you can to help us help them. >>> it's been more than three decades since the vietnam war but today, some overlooked veterans are finally being recognized for their service. >> cbs 5 reporter anne makovec is in alameda talking to some of today's very special guests. hi, anne. >> reporter: i'm here on coast guard island. you can see this huey helicopter behind me. this is something you think of when you think of the vietnam war. er in to take off but they brought it here for a special program. while you think about the vietnam war when you see something like this helicopter, when you think about the u.s. coast guard, you don't necessarily. but maybe now you will. and with the sound of a huey chopper, memories of the vietnam era came rushing back. >> i joined the coast guard at the peak of the draft call but they
CNBC
Nov 23, 2012 9:00am EST
portfolio manager that worked for crn. cnbc's kate kelly has more on this very much developing story. good morning, kate. >> good morning, david. you're right. developing is the word. "wall street journal" has an interesting story this morning about how federal prosecutors tried to get him to turn a year ago. apparently they failed. they could not convince him to go along with the case that they were attempting to build. there are two things i find interesting about that. one is that he refused to cooperate in a case being built against his former boss, steve cohen, who many thought for years was the big fish that federal prosecutors and secondarily the s.e.c. may have been trying to go after in terms of numerous insider trading allegations the government has made against a number of hedge funds and expert networks including former employees of s.a.c. the fact he refuses to go along with that tells us they were trying to do it specifically. he and martoma discussed a trade that resulted in these quarter billion dollars in what the feds describe as ill gotten profits. we don't know what coh
CNBC
Nov 20, 2012 12:00pm EST
of the new york u.s. attorney's office. kate kelly joins us now with the details. what do we know to this point? >> scott, a very tough day for s.e.c. capital and especially for steve cohen, the hedge fund's founder. they have spent recent years fending off -- amid charges that two former employees engaged in insider trading and later destroyed evidence of their behavior, but in the case today, yet another former employee stands accused of insider trading and cohen appears to have been involved in the trades at issue. whether or not he knew he was dealing with will gotten information remains unclear. this case centers on allegations that starting in 2006, an s.e.c. analyst named matthew martoma recommended buying shares of elan and wyeth to only sell them in 2008 based on illegal obtained information about a drug trial that yielded bad results. sac allegedly made a quarter of a billion dollars and martoma took home a bonus of more than 9 million. they are saying this is the most lucrative insider trading case ever and raises questions about what more is to come. maybe the most det
CNBC
Nov 28, 2012 6:00am EST
could reverberate throughout the company. there will be an investor call this morning. and kate kelly has been following this story from the beginning and has more information now about that possible -- that call and possible investor redemptions. >> that's right, andrew. so this morning at 8:00, s.a.c. management and it's unclear whether steve cohen himself will be on the call will be briefing investors of what's going on of late, notably this case filed last week. and this case is important because for the first time it would appear that steve cohen the fund founder has implicated himself in one of the trades involved, although we don't know what knowledge he had and whether he knew that martoma alleged improper information. having said all that, it's unclear what s.a.c. is facing in terms of investor redemptions. i reported last week on one money manager who under pressure from individual investors in its fund were redeeming capital. now, the next window to take capital back is actually not until early 2013, but that party filed a bit early. as of yet i was hearing there are other
CBS
Nov 28, 2012 6:00pm PST
and their owners from mexico to sonoma. as kate kelly reports the jefferson award winners are improving animal welfare on both sides of the border. >> this is romero rescued off the streets of juarez, starving. >> this is juanita. found him on the side of the road hit by a car. >> reporter: they have given names to the rescued dogs and given them new lives. they once lived on the streets of mexico barely surviving under the harshest conditions. >> you will see just a large number of homeless street animals. they are not spayed or neutered so they are actively breeding and problems increase exponentially. >> reporter: they met 10 years ago in mexico while volunteering at an animal control center. christie's a veterinarian, moncho a graphic artist. they live in santa rosa but never forgot the suffering they once witnessed. >> homelessness, starving animals. the magnitude of the problem was overwhelming. >> reporter: so they founded compassion without borders, and held their first free clinic in juarez. >> our main emphasis is on spay and neuter and training local vets and advocates how to keep t
CNBC
Nov 20, 2012 9:00am EST
to headquarters. kate kelly has breaking news for us. >> we just received word that u.s. attorney for the southern district along with enforcement arm of s.e.c. is announcing what they consider to be the most lucrative insider trading scheme ever charged resulting in benefits to a hedge fund of more than a quarter billion dollars. that's billion with a b. the name of the hedge fund does not immediately seem to be apparent. it's a hedge fund with officers in new york and connecticut and this case centers upon a gentleman who was arrested by the fbi at his florida home this morning. he allegedly got inside information about an alzheimer's drug on trial in 2006 and 2007 being conducted jointly and he passed on that information to said hedge fund resulting in the ill gotten gains and in the process committed securities fraud among other accusations. we'll bring you more details as we have in this news just out this morning and there's a press conference later today at about 12:30. we'll bring you details. >> all right. already a busy month. thank you for that. we'll see you later on today. >>> big box
CNBC
Nov 2, 2012 1:00pm EDT
gasoline. >>> but first, kate kelly has more on the port situation in bayonne, new jersey. kate? >> reporter: thanks so much, michelle. we're here right in new york harbor where things today are slowly coming back to life after nearly a week in which this harbor was closed to marine vessels coming in and out. yesterday the coast guard opened this harbor for the first time in nearly a week. the port of new york and new jersey to boats with a special aim in mind, bringing gasoline and diesel to the city for much needed replenishment of empty fuel stations. there was an unflux of barges bringing petroleum products in the afternoon i'm told, followed by some additional traffic this morning. we're having a little bit of trouble. thank you very much, kate. >>> now to bertha who's on a tugboat out in the water. bertha? >> reporter: thanks very much, michelle. we're on the other side of bayonne on the water. behind me is one of the largest terminals here. the intt bayonne terminal. they do not have power. we spoke to pse&g. they still can't give us an estimate when power will return. th
CNBC
Nov 1, 2012 1:00pm EDT
from the pump face there. kate kelly is at a terminal in new jersey for more on that. kate? >> reporter: simon, things are very grim here in new jersey, standing next to an administrative building that was battered in the storm. in the coming days, workers wearing steel-tipped boots will be walking through things like raw sewage, stimber and reeds i order to retrieve company documents. glass is shattered, the refrigerator is floating and they've even seen raccoon tracks inside. this isn't even where they store the all-important fuel. terminals like this one, about 15 to 20 of them in this area of northern new jersey, in new york harbor, are key to getting critical fuel supplies to the new york region. but before -- >> we're estimating right now -- we're still in the assessment process -- four to six weeks to get our marine facility back up. we not only look to the integrity of what's in the tanks but the integrity of our marine facility. >> reporter: before bergman can get those tanks operating again you must make sure his pump boaters are working. he's now considering sending the motor
CNBC
Nov 19, 2012 12:00pm EST
the partnerships and now it seems succession talks are heating up. kate kelly has the latest. we already know they handed out the fewest number of partnerships since they went public. >> that's right. i mean, they are downsizing in the upper echelon. and as you know, compensation across the street and certainly goldman has been lower than in past years. of course, at this time of year speculation about leadership changes always rampant. at the moment, many eyes are gary chone the president of goldman sachs. he held his job since 2006 when blankfein was named chairman. successfully steered the firm through the financial crisis and ceo for more than six years. which puts him within a stone's throw of the traditional length of tenure for a goldman sachs chief. that fact, along with the elevation of a long time ally to the chief financial officer role are increasingly leading insiders to think that transition may be afoot. despite being a huge revenue source, has also been a subject of much criticism in recent years. shareholders also have pressured goldman to split the role of chairman and ceo t
CNBC
Nov 19, 2012 4:00pm EST
breaking news regarding jpmorgan. kate kelly has that for us right now. >> after a relatively brief surge jpmorgan has gone to-n to name a new chief financial offer and named mary ann lake who runs their community and banking group. they're divide into major divisions. mary ann lake has been with the company for a number of years. she was the controller of the investment bank previously. she's been running consumer and community bank for a couple of recent years and now cfo starting in the new year and join the company's operating company. lake succeeds bronstein, who was cfo in recent years and decided recently he would step down, possibly go back to investment banking where his roots are, or possibly do something within or outside the company. those details are not clear yet but what we do know is jpmorgan is going to have its first -- i'm sorry, second female cfo. >> thanks so much. female cfo. we're getting somewhere, bill. >> that's a good thing. >> you want me to do this? >> it says your name. >> bertha coombs has all the numbers for us. we did set some benchmarks. >> we did. it was
CNBC
Nov 21, 2012 12:00pm EST
that is embroiling sac capital. kate kelly has the latest. >> thanks so much, scott. there's a lot of talk of course and one big question given this is just the latest development in an ongoing federal investigation of potential insider trading dealing with former employees of the firm, but yesterday's news which involved the arrest of a former sac employee appears to have drawn stevie cohen into the fray as well. although he is not named by name in the federal or s.e.c. complaint, it clearly seems to be he who discussed one of the trades involved with this former employee and in fact authorized the trade to take place although we don't know what cohen knew about whether the information was ill gotten or not. so the question now becomes what is the investor reaction? are people thinking of redeeming the money from sac or not? this is a firm that has really outperformed, especially in recent years. this year, they manage about $14 billion. up more than 10%. also charge some of the largest fees in the industry. 3% of expenses. 50% of upside, so this is pretty high. they've i guess justified it because
CNBC
Nov 29, 2012 12:00pm EST
halftime report." kate kelly with breaking news. we just learned s.a.c. capital will be holding another staff telephone call this afternoon after the close of markets to discuss the issues currently surrounding the hedge fund. this will be the second call for the firm's internal staff in about two weeks. no doubt the issues that will arise continue to be steve cohen, his involvement in an ongoing insider trading investigation that the government has lost. cohen has not been charged personally. there's no indication those plans are coming down the road. he was not part of the wells notice the firm received last week, reportedly. nonetheless, questions surround about his involvement as well as his plans to potentially retire sometime soon reported in the "wall street journal" this morning. an s.a.c. spokesperson tells me the notion that cohen is soon to retire is utterly false. nonetheless, from what i'm hearing there's a lot of question from within the firm about cohen's situation and what the legal issues are as they continue to unfold, scott. we'll bring you more details of that as we
CNBC
Nov 29, 2012 5:00pm EST
this on weakness. >> let's get to kate kelly. she has some news. what's the latest? >> melissa, the sac staff called, a second of its kind in two weeks just wrapped up a short time ago. it lasted less than half an hour. in it, sec management sought to reassure their employees. they have more than 1,000 people they employ. they wanted to reassure employees that steve cohen, a, has though plans to retire contrary to some talk out there today. two, that he is not personally entangled in this current government investigation. well, rather in the current government complaint over insider trading allegations against a former trader as well as one of sac's subsidiary units. there was talk that he may be charged in the coming months, but the staff has reassured them it'sed a rye s ed advisers that chargcharg charged along with a doctor who allegedly provided information to this insider. not cohen personally. as far as i'm told, the staff mood has been relatively stable. people are obviously concerned, but cohen has been going around and actually meeting with portfolio managers one on one, melissa, to
CNBC
Nov 21, 2012 1:00pm EST
trading investigation. both of them had it on the front page. kate kelly first reported the storiette yesterday and is here now with the very latest. >> you know, yesterday was a very rough day for steve cohen, the founder of sac capital. although his firm and its former employees have been surrounded in recent years by questions about whether or not there was improper trading at various times. the fact that the doj was involved with yesterday's case unveiled yesterday and not just the s.e.c. was news to him, i'm told. now the 56-year-old traders is being personally implicated in a situation that involved alleged misuse of invird information on a drug trial to sell short two pharmaceutical positions though it isn't clear what cohen knew before he authorized those trades back in december 2008. so far he's said he's confident his and his firm's behavior was appropriate and he is cooperating with investigators in this process. that said, the news of this doj proep probe was a bit of a shock from what i hear and the probe was the result of a trade engineered by a former sac employees name
CNBC
Oct 31, 2012 11:00pm EDT
talk to kate kelly. i don't have the goods so i'm not going to pretend that i do. karen in maryland. >> caller: i'm a first-time caller, longtime listener. my stock is bj's restaurant. ticker bjri. it's in 14 states and is expanding into the d.c., virginia, maryland area. took a big tumble last week and i was wondering what your take is on it. >> okay, i'm doing a piece for realmoney.com, talking about the notion of how this year has been the worst year for bottom fishing. bottom fishing has not worked at all. and i don't think it's going to work for bj's. once the stock seems to be broken in 2012, it stays broken. want something that stays broken? i'll tell you what. it goes away. don't buy that stock. the opening bell, it was music to our ears and i loved it. i think it also began a drum beat for the u.s. economy as well. as tragic has sandy has been, the rebuild will include many on its back. jobs coming. "mad money" will be right back. >>> coming up, earnings alert. wall street's back online and cramer's got earnings season covered with an all-star lineup you can't afford to mis
CNBC
Nov 21, 2012 9:00am EST
industry, cohen is a mystery to the general investing public. kate kelly with information on that. >> reporter: it's true. steve cohen is a less known figure in the general public. he very rarely gives an interview and so far has declined our information to come on cnbc and talk about the latest legal situation. but within his firm, you know, he casts a very long shadow. he's known for being a very aggressive, very hands-on trader as well as a manager of people. i'm told by people who have worked there in the past and now that if he disagrees with your position or he wants more information on it, he's known for getting in your grille and asking a lot of questions about where you came up with your thesis, why you changed your mind or what's going on. these could create a problem for him in terms of the legal case that was opened yesterday, the complaint against matthew martoma, who sold off positions they had in two pharmaceutical companies, elan and wyeth, allege he had information about a trial they were involved in that wasn't going well. he spoke to the hedge fund owner, assume
CNBC
Nov 1, 2012 9:00am EDT
gasoline and jetd fuel to the new york city region inge stead, kate kelly isn't one of those terminals in lindsay, new jersey today? >> reporter: i'm standing in front of what used to be the administrative office of new star energy at their terminal business, that is until it was trashed by hurricane sandy, in the last few days, these termin terminals, 20 or so of them that supply almost all of the auto and gas to the new york, new jersey region are facing an influx of debris, tidal waters, nine to ten feet. timber, even raw sewage, it's really a disaster. this morning, they're also facing the added component of a full spill announced yet, 300,000 barrels from a site nearby. the scale of the disaster is unlike anything they have ever seen. >> i've been in this business for 35 years, this is the worst hurricane that has ever hit the east region for us. >> reporter: scott birdman who is managing the scene has two essential things he does, one is to manage gas racks where trucks fillup. he's hoping to get one or two of them june line today. his biggest hurdle is power, he's operating on a
CNBC
Nov 5, 2012 9:00am EST
we're out of the woods. or out of the gas lines i should say. >> all right. kate kelly, thank you very much. very difficult situation for many people in this already hard hit area. making money on the first monday of november, cramer will show the way with his mad dash up next. >>> a big variable in insurance. how much damage caused by sandy will actually be covered. let's take another look at futures in the first trading day of the week. very big week. we're holding steady here with the dow open about 23 points lower. much more "squawk on the street" straight ahead. trading tools fo. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? open an account today and get a free 13-month e ibd™ subscription when you call 1-888-280-0149 now. optionsxpress by charles schwab. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a ba
CNBC
Nov 2, 2012 6:00am EDT
kate kelly's thoughts. she's out reporting on what's going on. kate. >> the new york harbor sitting right behind me, this slim can elf water is normally about the third busiest port in the nafgs. we are nearly a million barrels per day. but that was until hurricane sandy, of course. in the aftermath of the storm, the coast guard shut down the water way to boat traffic in an effort to keep people safe. and now to assess the storm's damage. that is until yesterday. late that day, partly at the behest of senator schumer, the coast guard agreed to reopen the port to fuel bearing craft. the move was designed to help gas strapped consumers, airlines and businesses to get back on the roads and in the skies. gas industry officials say it should make a difference. the storiage terminals have been hard hit by the storm and some will require weeks of water removal and equipment work to get back into operation. but others could be ready within days they need terminals to at that time the finished product off of their hand so is that they can load up fresh supplies and keep going. still, it's li
CNBC
Nov 27, 2012 9:00am EST
on night trading, i want to get to that one. that stock up a bit. kate kelly reporting two groups vying to buy this company. getgo in connection with jeffries own 40% of the company already but making a bid. that is what i'm hearing now. and kate has reported the same. later this week knight's management is scheduled to speak at a kbw conference. you can expect they'll cancel that. what i'm hearing is don't be surprised to see a deal done over the next few days maybe announced on monday. book value at night. $3.25. keep that in mind. >> don't go crazy on it. >> keep that in mind when you think about what they're willing to pay. more than book but maybe not that much more than book. >> speculators remain. >> value added right there. thanks, david. bargain hunters who bought facebook two months ago and held on have a reason to smile. coming up, should they stick with the social network or take some profits? also ahead, we'll talk fiscal cliff with republican senator johnnyi johnny isakson of georgia. we'll go to break and look at this morning's early movers with corning at the top of the
CNBC
Nov 2, 2012 9:00am EDT
or next. >>> wow. kate kelly, thanks for that. >>> a veteran voice speaks out on what is at stake for the markets. art cashian is next and trip adviser soaring on news and an interview with the ceo is coming up next. what he is saying about sandy's impact on travel. let's take a look at futures as we head into an abbreviated week. the s&p looking out at six at the open. ught from us online to. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. >>> six minutes until trading begins. let's bring in our financial services, art, very strong payrolls report. >> yeah, it was. initially it was greeted with a mild hint of suspicion because a big dollar for seasonal adjustments in the new one. when you saw theery revisions this the previous two months, that's confirming. we've seen the tren
CNBC
Nov 9, 2012 9:00am EST
be said for hedge funds giants? r.k. kelly has some details on how those funds performed or survived. kate? >> many of them kept their bets pretty modest bus they were waiting to see whether we kept them modest. a number of the major macrofunds are in more solid shape that prompted one long-time trader louis moore bacon to looesh it entirely. and tutor b.b.i and others were also up more than 2% for the year. all these guys, by the way, are beating the average make crow fund is down more than a percentage point. but the big winner here might be point state capital. stanley druckenmiller's hedge fund. pointstate is up to nearly 9%. one has nearly found its foots since the new person was put in place. that's zack schreiber. >> but last month the s&p gave back some territory as did green light capital manager dave ien horde. he made waves earlier this month. at the same time he was
CNN
Nov 13, 2012 1:00pm PST
, wolf. >> certainly is. barbara, thank you. let's get some more now on jill kelly and her connection to general allen and to the petraeus investigation. kate balduan is here picking up this part of the story. >> and as you know, our whole team, all of our correspondents are digging on this story for every bit of information as it's coming out, it seems in drips and drabs. our chief political analyst, gloria borger, is here with more on that. gloria, you're learning some new information this morning. what do you have? >> to follow up on what barbara starr is saying, my colleague, joe johns and i have been told that jill kelly and general allen had no sexual relationship. this is from a source familiar with jill kelly's version of events. but again, no sexual relationship. i don't think we know the exact nature of their friendship, but this is what we were told. i've also been told by a source familiar with jill kelly's version of events that she first mentioned this sort of e-mail harassment kind of casually to this fbi agent and said, i was told, you know, by the way, i'm getting the
CNN
Nov 12, 2012 1:00pm PST
to the nib's investigation of general petraeus. kate baldwin is here. >> so many moving parts, wolf. the cia confirmed that petraeus said to broadwell to stop sending e-mails to the family friend and the nature of the e-mails to kelly was along the lines of stay away. but we're told the messages did not threaten violence and that petraeus wasn't mentioned in there by name. as more details merge, members of congress questioned and they want answered. >> chief political analyst gloria borger doing work on this story and reporting. what have you learned? >> well, that the leaders of the house intelligence committee, the chairman and the ranking democrat are going to be meeting on first thing wednesday morning with the acting cia director mike morel and the deputy fbi director shawn joyce about the petraeus investigation. this is not about libya, bengha benghazi, particularly of the questions of whether they should have been informed on this before they were informed and one occurred. one source with knowledge of the session to take place said it will be a big-time dive in to the question of wha
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